Franco-Nevada Corporation’s (FNV) shares have improved around 3% since it reported first-quarter 2024 earnings on May 1. This uptick was driven by the company's outstanding margin performance, supported by rising gold prices, despite experiencing year-over-year declines in revenues and earnings.Adjusted earnings of 76 cents per share beat the Zacks Consensus Estimate of 68 cents. The 4% year-over-year decline in its bottom line was mainly attributed to lower Gold Equivalent Ounces (GEOs) sold in the quarter ...

27.6 27.5 Finance expenses 0.6 0.7 GEOs are calculated taking into account the NPI economics. Silver, platinum, palladium, iron ore, oil, gas and other A V E R A G E C O M M O D I T Y P R I C E C H A N G E S Franco & Nevada Based on LBMA PM Fix for gold, platinum and palladium. Based on LBMA Fix for silver Based on Bank of Canada daily rates R E V E N U E & A D J U S T E D E B I T D A P E R F O R M A N C E 6 $400 Total Revenue Adjusted EBITDA Cobre Panama Cobre Panama Q 1 2 0 2 4 R E V E N U E D I V E R S I ...

财务数据和关键指标变化 - 总GEOs销售量为122,897盎司,较上年同期的145,331盎司下降15% [13] - 贵金属GEOs销售量为93,018盎司,较上年同期的82,575盎司增加12.7% [13] - 收入为2.568亿美元,较上年同期的2.758亿美元下降7% [17] - 调整后EBITDA为2.161亿美元,较上年同期的2.292亿美元下降5.7% [17] - 调整后每股收益为0.76美元,较上年同期的0.79美元下降3.8% [19] 各条业务线数据和关键指标变化 - 贵金属GEOs占总GEOs的76%,较上年同期的76.5%略有下降 [20] - 多元化GEOs中,Vale royalty贡献有所增加,而能源GEOs大幅下降 [15] 各个市场数据和关键指标变化 - 公司83%的收入来自美洲市场 [20] 公司战略和发展方向及行业竞争 - 公司无债务,有23亿美元的可用资本,并有活跃的交易管线 [11] - 公司正关注收购天然气royalty、黄金和白银royalty等资产 [10] - 公司认为在大宗商品价格上涨环境下,其无债务优势将成为竞争优势 [22] 管理层对经营环境和未来前景的评论 - 管理层认为Cobre Panama问题有望得到解决,并与新政府进行建设性对话 [9][46][47] - 管理层对Antapaccay、Greenstone等新矿山的投产持乐观态度 [9][60][61] - 管理层认为大宗商品价格波动对公司影响有限,能够充分获益于价格上涨 [21][22] 问答环节重要的提问和回答 问题1 **Brian MacArthur 提问** 询问Antapaccay产量是否可持续 [26][27] **Paul Brink 回答** 预计Antapaccay产量将在全年内有所下降,但仍在指导范围内 [27] 问题2 **Heiko Ihle 提问** 询问公司是否看到交易定价环境有所改善 [41][42] **Euan Gray 回答** 在金价上涨环境下,有色金属生产商出售贵金属流的交易更为活跃 [44] 问题3 **Tanya Jakusconek 提问** 询问公司是否考虑非黄金资产的收购机会,如锂 [73][74][75][76] **Jason O'Connell 回答** 公司主要关注黄金资产,但也在关注锂等其他有潜力的商品机会 [74][76]

Exhibit 99.3 Franco-Nevada Corporation Condensed Consolidated Statements of Financial Position (unaudited, in millions of U.S. dollars) At At March 31, December 31, 2024 2023 ASSETS Cash and cash equivalents (Note 4) $ 1,352.0 $ 1,421.9 Receivables 126.7 111.0 Gold bullion, prepaid expenses and other current assets (Note 7) 91.5 82.4 Current assets $ 1,570.2 $ 1,615.3 Royalty, stream and working interests, net (Note 8) $ 4,078.7 $ 4,027.1 Investments (Note 5) 257.2 254.5 Loans receivable (Note 6) 65.4 24.8 ...

(in U.S. dollars unless otherwise noted) TORONTO, April 10, 2024 /PRNewswire/ - Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX: FNV) (NYSE: FNV) announces the publication of its 2024 ESG Report and 2024 Asset Handbook. "We are proud to report on our leading ESG approach, new programs and commitments and to provide a detailed review of our portfolio of assets," said Paul Brink, President & CEO. "We are delighted to have a number of our operating partners participate in the investor day to ...

A month has gone by since the last earnings report for Franco-Nevada (FNV) . Shares have added about 10% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Franco-Nevada due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Franco-Nevada Q4 Earnings Top Estimates, Sales Fall ...

Dogan Kutukcu Introduction Gold bulls are in a very good place right now, as the shiny metal has made a number of new highs this year. Currently, COMEX gold futures are trading north of $2,160. That's more than 30% above the 2022 lows. TradingView (COMEX Gold Futures) According to Bloomberg, a major driver of demand comes from China, where the central bank and private buyers have been busy accumulating what one might call the world's oldest "currency." Gold’s gains over the past five weeks have also bee ...

财务数据和关键指标变化 - 2023年全年总GEOs销量为607,045盎司,在公司指导范围内 [19] - 2023年全年贵金属GEOs销量为488,109盎司,也在公司指导范围内 [19] - 2023年第四季度总GEOs销量为152,351盎司,较上年同期下降15.7% [25][26] - 2023年第四季度贵金属GEOs销量为119,581盎司,较上年同期下降8.1% [26] - 2023年第四季度收入为3.033亿美元,较上年同期略有下降 [30] - 2023年第四季度调整后EBITDA为2.546亿美元,较上年同期略有下降 [30] - 2023年全年收入为12亿美元 [29] - 2023年全年现金成本为每GEO 286美元,较2022年的242美元有所上升 [35] 各条业务线数据和关键指标变化 - 2023年第四季度能源GEOs为25,640盎司,较上年同期大幅下降46.3%,主要是由于天然气价格下降 [28] - 2023年第四季度多元化GEOs为7,130盎司,较上年同期增加,主要是由于铁矿石价格上涨带动的Vale royalty收入增加 [27] 各个市场数据和关键指标变化 - 2023年全年收入中,78%来自贵金属,88%来自美洲市场,其中加拿大和美国是最大贡献地区 [34] 公司战略和发展方向及行业竞争 - 公司保持强劲的资产负债表,为未来业务扩张提供了充足的资金 [11][46] - 公司未来5年内有15%的有机增长潜力,不包括Cobre Panama [43] - 公司正积极寻找新的收购和项目融资机会,主要集中在贵金属领域,包括一些需要资产负债表修复的交易 [136][137][141] - 公司在ESG方面表现出色,在金矿行业和贵金属行业中排名靠前 [12] 管理层对经营环境和未来前景的评论 - Cobre Panama停产给公司带来了重大影响,占公司收入约20%,但公司其他业务仍保持良好 [10][16] - 公司对Cobre Panama前景保持乐观,正在积极寻求与巴拿马政府的谈判解决,并启动了仲裁程序 [23][24] - 公司预计未来5年内有15%的有机增长潜力,主要来自新矿山的投产和现有矿山产能的提升 [43] - 公司对未来前景保持乐观,认为公司的多元化业务模式和强劲的现金流将为股东带来持续的回报 [10][11][16] 问答环节重要的提问和回答 问题1 **Josh Wolfson 提问** 公司如何考虑各主要资产的产量下降节点,并寻求替代增长来保持持续增长 [49] **Paul Brink 回答** 在交易时,公司会考虑矿山的储量和可信的开采计划,以确保获得可接受的最低收益。同时也会尽量延长交易期限,以最大化期权价值 [50][51] 问题2 **Lawson Winder 提问** 公司是否会寻求从First Quantum收回尚未收回的预付款 [60][61][62][63][64] **公司回应** 公司希望合同保持有效,并期待Cobre Panama能够重启生产,届时公司将继续收取应得的交付量。目前公司不打算就未收回的预付款采取行动 [63][64][65] 问题3 **Tanya Jakusconek 提问** 公司为何选择一次性全额计提Cobre Panama的减值,而不是分期计提 [79][80][81] **Sandip Rana 回答** 这是管理层根据当时可获得的信息做出的谨慎判断 [81]

Franco-Nevada Corporation (FNV) reported adjusted earnings per share (EPS) of 90 cents for the fourth quarter of 2023, up 5% from the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of 80 cents.The company generated revenues of $303 million in the reported quarter, marking a year-over-year decline of 5.3%. The downside was due to lower gas, platinum group metals and oil prices, partly offset by higher gold prices. During the December quarter, 78.7% of revenues were sourced from Pr ...

Exhibit 99.3 Management's Report On Internal Control Over Financial Reporting Franco-Nevada Corporation's ("Franco-Nevada" or the "Company") management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in rules 13a-15(f) and 15d-15(f) under the United States Securities Exchange Act of 1934, as amended. Franco-Nevada's management, with the participation of its President & Chief Executive Officer and its Chief Financial Officer, assessed the effecti ...